Vacant Mixed-Use
For Sale
$150,000
2517 21st Avenue lot S, Gulfport, MS 39501
Commercial Sale, Gulfport, MS
Property Size2,300 SF
Lot Size0.19 Acres
Price / SF$65.22
Days on Market471
Property Features for 2517 21st Avenue lot S
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Gulfport City
Standard status
Active
APN
0811c-01-007.002
Size
2,300 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S 20 FT OF LOT 5 & ALL OF LOT 6 & N 5 FT OF LOT 7 BLK 28 ORIGINAL GULFPORT SEC 4-8-11
Tax Annual Amount
1526
Legal Description
S 20 FT OF LOT 5 & ALL OF LOT 6 & N 5 FT OF LOT 7 BLK 28 ORIGINAL GULFPORT SEC 4-8-11
Building Details
Year built
1948
Listing Agency:
Crescent Sotheby's International · Sotheby's International Realty
(985) 345-6802
Listed By:
Holly J Gibbs · License #B22047
(228) 697-3714
Added: May 18, 2025
Changed: Aug 26
Last Checked: Aug 31 at 5:06AM
MLS# 4113693
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant mixed-use property contains approximately 2,300 square feet on a 0.19-acre site. Built in 1948, the building was previously used as a care home and requires repairs. Its existing layout can be reconfigured for residential, commercial, or hospitality applications, subject to confirmation with local zoning authorities.
The property is positioned in downtown Gulfport near beaches, casinos, dining, and entertainment venues. Public water and sewer service are available, and on-site parking is included with potential for expansion. The sale is offered as-is, with major roads and public transportation providing access to the surrounding area.
The property is positioned in downtown Gulfport near beaches, casinos, dining, and entertainment venues. Public water and sewer service are available, and on-site parking is included with potential for expansion. The sale is offered as-is, with major roads and public transportation providing access to the surrounding area.
Key Highlights
- T6 mixed‑use zoning supports residential, commercial, and hospitality uses, subject to local confirmation
- 2,300 square feet on a 0.19‑acre site
- Vacant building constructed in 1948; previously used as a care home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,862
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,240
$257.2K
Cap Rate 7%
$183,743
$183.7K
Cap Rate 9%
$142,911
$142.9K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.4K $11.04/SF
− Vacancy
−$2.0K −$0.87/SF
EGI
$23.4K $10.17/SF
− OpEx
−$10.5K −$4.58/SF
NOI
$12.9K $5.59/SF
Area
Harrison County, MS
Vacancy
7.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$257,240
Cap Rate 7%
$183,743
Cap Rate 9%
$142,911
Alternative Uses
Best Use
Mixed Use
$232.9K
$203.8K – $271.7K
NOI $16,301 @ 7.0% cap · market cap 10.87%
Second Best
Apartment 5plus
$183.7K
$160.8K – $214.4K
NOI $12,862 @ 7.0% cap · market cap 8.57%
Theoretical Best
Healthcare Medical
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - T6-zoned property with public utilities, on-site parking, and a flexible existing floor plan for redevelopment.
Where is this mixed-use property located?
The property is located at 2517 21st Avenue lot S Gulfport, MS.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: T6 mixed‑use zoning supports residential, commercial, and hospitality uses, subject to local confirmation; 2,300 square feet on a 0.19‑acre site; Vacant building constructed in 1948; previously used as a care home
